The Hyatt Hotel Corporation

April 15, 2010

Today TNR is featuring one of my all-time favorite articles -- "The Mystery Of The Free Lunch" by Michael Kinsley, published in 1981. It's very difficult to describe this piece. The basic argument of the piece is that, while supply-side economics claims that tax rates on the rich play a crucial role in aligning incentives, a massive amount of consumption by the rich is actually tax-free.